BUYERS INSPECTION VISIT FORM

To enable us to reserve your inspection visit, air tickets and accommodation, please complete the enclosed form to the best of your ability, with the relevant payment, and send it clicking the Submit button.
As soon as we have received your completed booking form and payment instructions, we shall contact you to confirm your flight dates and itinerary. If you have any doubt on how to complete the form, or any other question, do not hesitate to contact us by phone.

TYPICAL BUYERS INSPECTION VISIT ITINERARY

• Itinerary Day 1
am/pm. As soon as you arrive at the airport you will be met in the arrivals hall by one of our team members and taken to your hotel to check-in. After you have been able to refresh yourself from your journey, you will then be collected from the hotel for a guided tour of the area and shown places of interest. Your evening meal will be spent at a local restaurant.

• Itinerary Day 2
10 am Depart hotel for further tour of the area and amenities, commence inspection visit of properties.
2 pm Break for lunch (In a local spanish restaurant especially selected by us).
3 pm Resume inspection visit of properties.
5 pm Return to hotel for a rest and recuperation.
8 pm Depart hotel for evening meal.

• Itinerary Day 3
Same as day 2

• Itinerary Day 4
10am. Leave hotel for further inspection or re-inspection of selected properties or areas.
1pm. Help and advice on financial, legal and other services offered by Euroselect.
2pm. Lunch
3pm. Further viewings of continuation of the morning’s discussions. Meetings with solicitors and banks if required.
5pm. Return to hotel for relaxation and review of inspection visit.
8pm. Depart hotel for evening meal.

Please note:
The above Itinerary is an approximate guide of what to expect on a Property Inspection Visit. Please be aware that some Itineraries may vary due to flight arrival/departure times. At no time will you be pressured into making a purchase.

The history of the area dates back to Palaeolithic times. Most of the settlements that are well documented come from Roman and Arabic periods . There is a good archaeological record from these periods with many remains and artifacts.

This was an important area for the Romans, valued for the salt industry which they developed there. There was also a lot of seafaring traffic, from which developed some industrial settlement. This traffic was possible because in Roman times the Mar Menor was joined to the Mediterranean. Over a period of many years the sea became closed off and about 1000 years ago it took on the aspect that it has now.

The Romans called it Belich and they referred to it as a port of refuge even for heavy vessels, due to its much greater depth at that time.

Ancient chronicles, such as the Libro de Montería de Alfonso X, speak about the rich fauna and beautiful landscape of the area. It’s known that the fauna was very numerous. The island of Ciervo maintains the name of the animal that inhabited it, the deer, and in Pinatar, long ago, there was wild boar hunting.

Wild life abounds and you can find still find guinea fowl ,thrushes, ducks and other water birds that winter in the cool waters of this unique sea. Arabic and Carthaginian writers of the period also wrote of the importance of the salt mines to the north of this area, which today is one of the most important marshlands of Spain, together with the fishing art called Encañizada, which has practically disappeared these days.

- Close to Alicante airport - approx 30 minutes away
- Many picturesque golf developments
- Thriving community
- Developing area

The South Costa Blanca is quite different to the North Costa Blanca. The South is an area of lowlands in general appearance, bordered by conservation areas and salt lakes to the west and the Mediterranean and Mar Menor (Europes largest inland saltwater lake) to the east.

There is a vast range of wonderful shallow sandy beaches and the geography makes this an ideal golfing location , or indeed a golfers paradise. There are several newly constructed championship standard golf courses in the area. The courses provide the perfect and idyllic setting for huge selection of high quality apartments, bungalows and villas. The area has attracted considerable investment and has excellent the facilities on offer.

The Seafood, shellfish and other fish of the southern Costa Blanca is also legendary throughout Spain. It is landed daily at the local ports. This coast is protected by the Crevillente mountains to the west and with the warm Mediterranean sea on its eastern shores gives this part of Spain a perfect winter climate in which to enjoy ones retirement. Temperatures range around a comfortable 20 C in the Winter to a maximum average of about 30 C in the summer.

General Outline

Since it’s integration into the European Union, Spain has changed dramatically with regards to the laws and controls imposed on the purchase/sale of both new and second hand properties, all has to be said for the better.

As in the UK, deeds (escrituras) are applicable to freehold properties and using a reputable agency and qualified legal advice, purchasing a Spanish property should be both simple and trouble free.

Apart from the actual price you pay for the property, there are additional costs associated with a purchase and these can be summarised as follows,

I.v.a. (Spanish v.a.t.)
Currently set at 7% of the declared purchase price. If the construction is a new build,a further 0.5% levy is applied which is similar to our stamp duty.

Notary / Land registry fees
Preparing the title deeds and their subsequent registration. These are not solicitors fees but costs applicable to purchasing property as laid down by the Spanish government.The Notary and Registrar are semi-government officials and oversee all sale (compraventa) transactions.

Plus valia tax
Levied by the local municipal (local council) authorities and in general terms this is a charge based on the increase in the value of the land since the previous sale.

As every transaction is different and the above costs are based on several factors we cannot give you a fixed total that applies across the board, but as a guideline you should always work on the basis that when you purchase a property you must add 8%-10% to the initial purchase price to cover these additional costs. Obviously all of our clients will receive comprehensive explanations as to the legalities involved in purchasing property both from ourselves and our legal team, this just serves to outline the current rules that are presently in operation.
Other important terms

Nie number (Tax Registration Number) and Taxes
All property owners in Spain, whether resident or not, must obtain this number, as you cannot pay your taxes or register your property without it. It is simply a fiscal ID number for non-residents and you also need it to pay your annual taxes to the Hacienda (tax office). Your legal representative can advise on this matter but as a matter of course we apply for these numbers on your behalf when you purchase property through Valuvillas.

Finance/mortgages
There are opportunities to obtain mortgage facilities at very attractive rates when purchasing spanish property and depending on your status, the amount loaned is generally between 70% to 80% of the banks valuation. The current interest rate is between 4.5 and 5%. For more information see www.bankinter.com which is a Spanish bank with an English language website option.

Capital gains and inheritance
Both taxes follow similar guidelines to the UK and depending on your own personal circumstances, minimisation of these taxes can be achieved through consultation with our legal advisors.

Mortgages on Spanish residential property are readily available and are similar in format to UK mortgages. The bank will expect a Bank valuation on the property and the size of the mortgage will be based on that with a mortgage of approximately 60-70% available for non-residents and 70-75% of the value of the property for residents.

Applicants should expect to provide the following documentation along with the valuation.

Last tax declaration…P60
Personal details…address in the UK, passport copy etc
Letter from your UK bank
Last three payslips or previous years accounts if self-employed
Once these details have been supplied the bank will normally have an answer for you within 2 weeks.

Many UK residents have recently been re-mortgaging their houses so that they can release sufficient equity to purchase or part-purchase a property in Spain or elsewhere overseas. You already have some equity you may still need a mortgage of some sort to complete on a house purchase. If you talk to us, we will help you find the best mortgage to suit your financial circumstances.

MEDICAL

EU nationals visiting Spain have access to free health care through the Spanish equivalent of the NHS. When you are visiting Spain – perhaps on an inspection visit – please ensure that you are carrying your E111 form which is normally available from Post Offices in your home country. The E111 covers emergency medical treatment while you are visiting Spain.

If you choose to become a Spanish resident and pay government taxes, you and your family, will be allocated a doctor and a clinic within the Public Health system.

There are two levels to the private health system, with Medical insurance companies such as Signa or Caja Salud who have their own hospitals clinics and other medical facilities. The service they provide is the same if not better than the public system, but is paid for through your insurance premium payments. The second level is for private medial companies who use the public services on an as and when needed basis – and they pay the hospitals directly.

PHARMACIES
For a minor medical condition, your local ‘farmacia’ will be a good port of call. They are easily recognised with the Green Cross outside their premises. The training the pharmacists receive is excellent, and many do speak English, so they are often happy to give assistance. It must be stressed that they will only deal with minor complaints. As in the UK, there is a rota system for pharmacies, so that a 24 hour coverage is given to the community. Normal pharmacy opening hours are from 9am-1pm and then again from 4-7pm. By law, Spanish pharmacies must sell you the cheapest brand of medication if that’s what you ask for.

EDUCATION
Private Education
The NABSS (the National Association of British Schools in Spain) represents the interests of some 40 schools in Madrid, Barcelona, and the major expatriate centres of the Costa Blanca, Costa del Sol, and the Canary and Balearic Islands. Its main area of interest is to promote and defend the interest of member schools and, by extension, the needs of children and their parents. The organisation hosts training sessions in Spain and a yearly conference in a different part of the country.

To give an example of the sort of thing the Association does, it has recently been talking to the Spanish authorities to make sure that pupils of NABSS schools get the best possible access to Spanish Universities. It has also been assisting in the formulation of a new inspection system for schools.

All NABSS establishments are visited and checked by inspectors from the UK. They ensure educational continuity for the expatriate children and have also proved popular with Spanish parents. For full information on each school and a guide to education in Spain please click www.nabss.org.

Public Education
As in the UK, the Spanish public education system offers schooling for children up to 18 years of age with the option of continuing education at University.

The Spanish system differs from the UK in that children stay in the same school for the period from the ages of 5 to 16, and subjects are taught in Spanish with English as the second language. Before going to University – if that is the chosen path – pupils need to go to an ‘Instituto’ between the ages of 16 and 18.

There are many benefits to be had from placing your child in Spanish eucation, with the speed of learning the language and integation into the community being the most notable.

As a general rule of thumb, the level of expense when buying a property in Spain is about 10% of the value of the property you are purchasing. It is made up as below:

For example, a property valued at £100.000

IVA (Spanish equivalent of VAT at 7%)…………………………. £7.000
Stamp duty (On New Properties at 1%)………………………… £1.000
Legal fees ( Spanish Lawyers fees at 1%)……………………… £1.000
Notaries fees (Approx 0,5%)……………………………………… £500
Land Registry & Gestoria fees (Approx 0.5%)………………… £500
Total……………………………………………………………………. £10.000

There are also fees that that do not apply to every purchase such as plus value tax, a local government tax on the increase of the value of the land since the last sale (usually £40).
There is also a charge for connecting water and electricity in a new property which is around £300.

ANNUAL RUNNING COSTS -NON- RESIDENT PROPERTY OWNER

• Wealth and Income Tax are payable once a year and are calculated as a percentage of the property value.
• Wealth Tax is 0.2% of property value.
• Income Tax is 0.5% of rateable property value.
• Local rates are payable between August and October £30 - £150 per year.
• Fiscal fees are payable yearly at £75.
• Community (Urbanisation fee) is usually paid in one or two payments per year £250 -
£350.
• Electricity bills come every two months and there is a minimum charge is around £15.
• Water bill will arrive every three months and there is a minimum charge is about £10.
• House Insurance is due once a year depending on the date of your purchase contract.
The price will depend on the size and value of your property.
• Approximately £750 should be set aside each year for the running of the house. If you
are not in the country, your fiscal representative (Gestor) will pay them on your behalf.

THE NORMAL FINANCIAL PURCHASING PROCESS

The purchase process may alter from property to property and there is an in-built flexibility in our purchasing process, but the following is not untypical:

When you have found the property you want to buy, there will be a holding deposit payment of usually £2000 when you sign the purchase contract with us.

If you are purchasing a new property that is either completed or in the process of being built, you normally pay a deposit of between 25% and 40% and the balance at completion of the sale. This could be within a few weeks.
If you purchase a new property with an extended delivery, say six months or more, then you will be required to make additional stage payments:

1. 25% of the purchase price within 30 days of signing the purchase contract
2. A further 25% of the purchase price within 90 days of signing the purchase contract
3. Finally, when the property is completed and ready for occupation, the final payment of the purchase price will be made.

If you are purchasing a resale (second-hand) property, then you will be generally required to make the following payments:

1. £2000 deposit when you sign the purchase contract
2. 10% of purchase price within 30 days
3. No further payment until you complete the purchase

Completion time will vary but the average time to complete is six to eight weeks.

USEFUL TIPS AND INFORMATION WHEN MOVING TO SPAIN

• Can I take my car to Spain?
Provided that you have owned your car for more than 6 months, you can take it to Spain. Before you leave you will need to apply for a certificate of permanent export from the DVLA, and you will have to surrender the original registration document. If you become a Spanish resident you will need to re-register the car on Spanish plates in order to use it.

• Can my children be educated in Spain?
As Spain is an EU country, the state education system is free of charge and also generally of a high standard. Spanish examination qualifications are also internationally recognised.

• Will I be allowed to work in Spain?
Any member of the EU is allowed to work in any EU country.

• Can I take my dog or cat with me?
Pet dogs and cats are allowed in Spain, but please make sure that inoculations are up to date and that the animal is microchipped. The next step is to apply for a pet passport that will allow the animals to return to the UK without going into quarantine.

• Can I have my state pension and other pensions paid to me in Spain?
The answer is yes. Information about how to do this is available from the DSS in Newcastle. Payments can be made directly into your Spanish bank account. The same also applies to private pension payments – just let your provider know of your new bank account details.

• Is there health care available?
Spain has an equivalent system to the NHS in the UK and it also has private healthcare provision which is available through private health insurance. The Spanish NHS is of a good standard and is free to an EU resident.

• Do I need an identity card if I move to Spain?
All European countries operate an identity card scheme, apart from the UK. You will need to apply for a card at a national police station, which has a foreign department. Before accepting a credit card, many shops and supermarkets in Spain will ask to see your ID card, so it is useful to always have it with you.

The legal and financial issues surrounding the purchase of a property in Spain tend to be the one’s that concern most potential owners. This is entirely understandable bearing in mind the financial commitment involved, and the potential problems that could be encountered.

Buying a Spanish property is actually easier than buying a property in the UK, provided that the correct approach is taken and proper professional advice is sought.

The Spanish legal system is radically different from our own in the UK, so it is important for any potential purchase to get local advice from qualified professionals before signing any documents or making any financial commitments.

Here is some helpful information about Spanish Law:

• An Abogado is a Spanish Solicitor
There are obviously many ways of buying a property in Spain. The most suitable avenue for you to go down – depending on your personal circumstances – will be advised by the Abogado. He will also do various checks on the property you are interested in such as the re-sale. Once he is happy that all the pieces of the jigsaw are in place for the property purchase it is necessary for the Escritura to be witnessed in front of a Notary. The Notary is a public official who makes public the documents of the sale and ownership of the property.

• The Escritura
The Escritura is the title deed, so it is a detailed document wit information about the property and it also proves ownership. The property’s recent history and details of past owners are also given if it is a re-sale property.

• Power of Attorney
If you as the buyer, cannot attend the signing of the Escritura, power of attorney can be granted – normally to a Solicitor – to attend on your behalf.

• The Spanish Land Registry System
Once the escritura (title deed) has been signed, the Notary will send it to the local land registry office. It will be entered onto the register and the land registry fees will be paid. Your solicitor will make payment of the fees and when the completed deeds are ready he will arrange to have them sent on to you.

• A Spanish Will
Once you own a property in Spain, it is highly recommended that you make out a Spanish will as English law is not relevant in Spain. This is obviously important when at some stage the property will be passed on to a member of your family. He/she should be given enduring Power of Attorney, in case you become incapacitated for any reason. Spanish wills are inexpensive.

• Spanish Bank Account
Once you have signed your purchase contract, you will be required to transfer monies from the UK into a Spanish account in order to complete the purchase. We can assist in the setting up of an account. You need to provide two forms of identification (passport or a driving licence with photograph will be sufficient) and initially you are not required to place any monies into the account. However, please allow at least five working days for all money transfers to reach your Spanish bank account as delays do occur within the Spanish banking system. Late payments could cause delays in completion of a property purchase.

• Applying for a Mortgage in Spain
The process of applying for a mortgage in Spain is similar to that in the UK. The Spanish bank will need proof of income – normally validated through P60’s, six month salary slips and two months worth of bank statements. If you are self-employed, normally two years audited accounts and your last tax statement will provide sufficient information about income. If joint income is to be used to get a mortgage, make sure you have details of your partners income. We have a good relationship with most Spanish banks, so you may be able to apply for a mortgage up to 50 - 60% of the properties valuation subject to status.

• Investment potential
If you are interested in purchasing property in Spain for investment purposes, there are two ways of making your investment work. Firstly, there is buy to sell, where you may want to invest in a property just by looking at a development plan and then sell upon completion. Good returns can be had taking this route, but its success is very much down to demand for the properties upon completion which depends upon location etc. Good returns are not a given, but returns of around 15%-20% have been achieved.
Secondly, the buy to let option could also prove to be profitable due to the Costa Blanca being one of the most popular holiday destinations in Europe. Simply let your property while you are not using it. This can be done privately or through a letting agency in the area. We can help out with information on the buy to let market if required.